Rhapsody Acquires Napster

Rhapsody Acquires Napster
Music streaming service Rhapsody has signed an agreement to acquire Best Buy-owned Napster, according to a Billboard.biz report. As part of the agreement, Rhapsody will gain Napster's subscribers and "certain other assets," and Best Buy will receive a minority stake in Rhapsody. Rhapsody will discontinue the Napster brand in the United States, but will retain the option to use it in other territories, according to the report. The value of the deal was not disclosed and the transaction is expected to be finalized by the end of November. Rhapsody is the leading U.S. subscription service, and the Napster acquisition could boost Rhapsody's subscriber totals to more than 1 million. (10/4)

UK Digital Album Sales Up, Overall Market Down
UK digital album sales totaled 6.1 million units during the third quarter of 2011, a 24.2 percent increase compared to the same period last year, accounting for 28.2 percent of all UK album sales, up from 20.1 percent last year. Digital track sales totaled 42.4 million units, a 13 percent increase compared to 2010, and year-to-date track sales have reached 130.6 million units, up from 117.5 million units at the same point last year. Despite the digital sales increases, physical sales for the quarter decreased 20.5 percent to 15.6 million. Overall album sales across all formats (CDs, digital, vinyl) were down 11.4 percent to 21.8 million, and total year-to-date album sales have reached 72.3 million, down from 76.2 million at the same point last year. (10/4)

Report: Sprint To Carry IPhone
Sprint Nextel
will reportedly purchase more than 30 million of Apple's iPhone over the next four years, according to a Billboard.biz report. The news coincides with Apple's expected iPhone 5 announcement today and expands Apple's reach beyond AT&T and Verizon. (10/4)

Email Newsletter